Business news from Ukraine

VERKHOVNA RADA INTRODUCED 100% GUARANTEE OF DEPOSITS DURING THE WAR

The Verkhovna Rada at a meeting on Friday adopted a law on the full guarantee by the state of deposits of individuals for the period of martial law and three months after its completion. According to the head of the committee Daniil Getmantsev in the Telegram channel, the law also establishes that subsequently the maximum amount of compensation on deposits will be UAH 600,000 compared to UAH 200,000 now.

In addition, the Rada adopted in the first reading bill No. 7233 amending the Tax Code and other laws regarding the collection of a single fee and accounting for denatured ethyl alcohol and chemical and technical products. The bill is aimed at providing favorable conditions for the production of denatured ethyl alcohol, bioethanol, chemical and technical products.

RADA MAKES LAW TO INCREASE TRANSPARENCY OF EXTRACTIVE INDUSTRIES

The Verkhovna Rada has passed a law on amending some laws regarding transparency in the extractive industries (bill No. 3790 of July 3, 2020).
Some 344 MPs voted for the legislative initiative by a number of MPs from various factions, in particular Andriy Zhupanyn and Ostap Shypailo (the Servant of the People faction).
The law was passed without discussion.
During the meeting, Zhupanyn urged to vote for the document, since it must be adopted by the beginning of next year. “We have already delayed the adoption of this law for a year. It is critically important to pass it before January 1,” he said.
As reported, according to an explanatory note to the bill, its main goal is to improve the provisions of law No. 2545-VIII dated September 18, 2018 on ensuring transparency in the extractive industries and the introduction of new requirements of the Extractive Industries Transparency Initiative (EITI), which Ukraine joined in 2013.
It is noted that the need to adopt amendments is caused by the introduction by the EITI Board of new standards in June 2019, in particular regarding the display of a gender aspect in the activities of companies, the provision of information on the impact of such activities on the environment, as well as the full disclosure of contracts for the use of subsoil resources concluded with the state starting from January 1, 2021.
Thus, in particular, a procedure for disclosing information on subsoil use is being clarified, including disclosing reports (consolidated reports) on payments to the state and information on concluded contracts, as well as production sharing agreements are made public after their state registration.
In addition, reporting for the amount of payments for carbon dioxide emissions is being introduced, and statements on the number of employees will have to be submitted with the determination of the number of employees of each sex. In addition, gender quotas are determined when forming the composition of the multilateral team for the EITI implementation.
At the same time, the terminology is being improved, the range of business entities subject to reporting is being clarified, measures are being determined to accelerate the preparation of an electronic reporting system for the submission and analysis of reports in the extractive industries, and the issue of companies’ liability for false information is resolved.

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President of Ukraine to submit bill on multiple citizenship to Parliament

President of Ukraine Volodymyr Zelensky intends to submit to the Verkhovna Rada a bill on multiple citizenship for Ukrainians living in the countries of the European Union and the United States.
“An important component of our international policy is the support of world Ukrainianness. I know how important the issue of multiple citizenship is for Ukrainians living in the United States, Canada and the EU. Today I am submitting a relevant bill to parliament,” Zelensky said speaking in the Verkhovna Rada with his annual address on the internal and external situation of the country.
According to the president, this will for the first time allow Ukrainians from all over the world “to feel themselves not a diaspora, not just people of Ukrainian origin, but of Ukrainian citizenship.”

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UKRAINE ADOPTS LAW ON MEDIATION

 The Verkhovna Rada at its meeting on Tuesday, with 302 votes, supported bill No.3504 on mediation at second reading. The bill defines the legal framework and procedure for mediation in Ukraine. In particular, the mediation procedure will be applied in any conflicts (disputes) arising in civil, family, labor, economic, administrative legal relations, as well as in criminal proceedings when drawing up agreements on reconciliation between the victim and the suspect, the accused, and other areas of public relations.According to the explanatory note to the document, individuals and legal entities can apply to a mediator for mediation both before going to court, the Arbitration Court, International Commercial Arbitration, and during judicial, arbitration or arbitration proceedings or during the execution of the decision of the listed courts.Mediation will be carried out by mutual agreement of the parties to the mediation in accordance with the principles of voluntariness, confidentiality, independence and neutrality, impartiality of the mediator.The status of a mediator can be obtained by any individual who has a higher education and has completed basic training in the are of mediation in Ukraine or abroad.

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UKRAINE RATIFIES PROTOCOL ON ROAD TRAFFIC WITH BELARUS

The Verkhovna Rada of Ukraine adopted the law on ratification of the protocol between the government of Ukraine and the government of the Republic of Belarus on amendments to the agreement between the government of Ukraine and the government of the Republic of Belarus on international road traffic of December 17, 1992 (No. 0060).
The relevant document was supported by 281 MPs.
The Ministry of Infrastructure noted that this law will liberalize the conditions for carrying out freight traffic between Ukraine and Belarus, free irregular passenger road transport from the licensing system, and also unblock the work of Ukrainian road carriers in the Baltic and Scandinavian directions.
“The lack of the required number of permits from Poland and Belarus, additional conditions for transit through Russia led to a situation in which Ukrainian exporters were virtually cut off from the markets of Lithuania, Latvia, Estonia and Finland. Only due to the lack of Belarusian permits, the loss of income of carriers in November-December this year should amount to UAH 1 billion. If we also take into account the needs of producers, then the actual losses for the country would be even greater. Today, the parliament defended Ukraine’s national interests in the international freight market and protected Ukrainian exports,” Deputy Infrastructure Minister Mustafa Nayyem is cited on the ministry’s Facebook page.

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HEAD OF THE PARLIAMENTARY FACTION REQUESTS SIGNATURES FOR REMOVING RAZUMKOV FROM POST OF VERKHOVNA RADA’S CHAIRMAN

Head of the parliamentary faction “Servant of the People” David Arakhamia has requested signature lists to remove Dmytro Razumkov from the post of chairman of the Verkhovna Rada, the speaker himself said.
“As expected, my colleagues came for signature lists to recall me from the post of chairman of the Verkhovna Rada of Ukraine. The corresponding proposal was submitted by chairman of the Servant of the People faction David Arakhamia. I immediately copied a document for the Verkhovna Rada Administration. As I promised, I will not hesitate with the process. Today, colleagues will receive signature lists. I wish them Productive Work in Truskavets!” Razumkov wrote on his Facebook page.
He attached a photocopy of the corresponding appeal of Arakhamia to his post on Facebook. It notes that the Chairman of the Rada may be recalled from office in accordance with Article 76 of the Rules of Procedure, in particular, due to his unsatisfactory work or due to other circumstances that exclude the possibility of performing his official duties.
“In accordance with the first part of Article 76 of the Law of Ukraine On the Rules of Procedure of the Verkhovna Rada, the Chairman of the Verkhovna Rada may be recalled from office by the Verkhovna Rada at any time at his request, or due to his unsatisfactory work in this position, including in the case of suspension from holding plenary sessions three or more times during one regular session of the Verkhovna Rada, or for other reasons that make it impossible for him to perform his duties. The early termination of parliamentary powers by the chairman of the Verkhovna Rada results in the termination of his powers as chairman of the Verkhovna Rada,” the text of the appeal says.
Proposals to recall the speaker may be submitted to parliament by at least one third of the MPs from the constitutional composition of the Rada with their signatures.

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